Forever 21 loses CFO

By

Matthieu Guinebault

Translated by
Nicola Mira

Published
Jun 8, 2016

The US apparel retailer is looking for a new CFO after the departure of Elizabeth Jain, effective from 10th June. Jain's departure is reportedly coinciding with a troubled period for the company.

Something which Forever 21 has strongly denied, stating that the rumours about its fragile financial health are "absolutely false." Some financial analysts have, however, voiced their criticism, rebuking the company for not keeping its financial statements up to date, preventing partners and suppliers from making sure about the retailer's proper functioning.

It is in this context that Forever 21 has claimed to be targeting $8 billion in sales for 2017, as well as planning to open some 600 stores in the next three years. The company is currently operating a network of 774 stores across 49 countries.